Broadcom lowers Q4 sales target

MattAndrejczak

SAN FRANCISCO (MarketWatch) -- Broadcom Corp.
brcm
late Thursday forecasted a lower sales target for the fourth quarter than it had previously estimated. The Irvine, Calif.-based communications chipmaker said fourth-quarter sales will be about $911.6 million, up 1% from the three months ended Sept. 30. In mid-July, Broadcom said it expected fourth-quarter sales of at least $941 million. The company attributed the lower forecast to inventory overhang in the DSL market and softness in the enterprise market. Broadcom designs chips used in Internet cable modems, satellite-TV set-top boxes, high-speed Internet service over phone lines, portable music players and wireless handsets. Its biggest customers are Motorola Inc. and Cisco Systems Inc.

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